Final UK AI Report Says Governance 'Crucial'

More than one year after regulators in the United Kingdom vowed to analyze the impact of artificial intelligence (AI), a report details the challenges and recommends governance of the controversial tech tool. The report, "Artificial Intelligence Public-Private Forum," by the Bank of England and the Financial Conduct Authority (FCA) was launched in 2020 to gather views on potential regulations that could be useful in supporting safe adoption of AI. The 47-page document explores barriers to adoption, how to address them and mitigate potential risks. But researchers concluded given AI's rapid evolution, there are no clear answers yet. The forum operated for one year.